IBTU.L vs. BBM3.L
IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) and BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) are both Government Bonds funds - IBTU.L tracks the ICE U.S. Treasury Short Bond Index while BBM3.L tracks the ICE 0-3 Month US Treasury Notes & Bills Index. Both are passively managed. Over the past 5 years, IBTU.L returned 3.38%/yr vs 3.46%/yr for BBM3.L. At a 0.00 correlation, their price movements are largely independent. Both charge a 0.07% expense ratio.
Performance
IBTU.L vs. BBM3.L - Performance Comparison
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Different Trading Currencies
IBTU.L is traded in USD, while BBM3.L is traded in GBP. To make them comparable, the BBM3.L values have been converted to USD using the latest available exchange rates.
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with IBTU.L at 1.39% and BBM3.L at 1.39%.
IBTU.L
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.39%
- 6M
- 1.77%
- 1Y
- 3.95%
- 3Y*
- 4.74%
- 5Y*
- 3.38%
- 10Y*
- —
BBM3.L
- 1D
- 0.14%
- 1M
- 0.46%
- YTD
- 1.39%
- 6M
- 1.93%
- 1Y
- 3.93%
- 3Y*
- 4.60%
- 5Y*
- 3.46%
- 10Y*
- —
IBTU.L vs. BBM3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 1.39% | 4.36% | 5.23% | 4.96% | 1.09% | -0.02% |
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 1.39% | 4.37% | 5.25% | 4.45% | 1.77% | -0.33% |
Correlation
The correlation between IBTU.L and BBM3.L is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | 0.00 |
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Return for Risk
IBTU.L vs. BBM3.L — Risk / Return Rank
IBTU.L
BBM3.L
IBTU.L vs. BBM3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) and JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| IBTU.L | BBM3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.17 | ||
| Sortino ratioReturn per unit of downside risk | +15.83 | ||
| Omega ratioGain probability vs. loss probability | 3.95 | 1.17 | +2.79 |
| Calmar ratioReturn relative to maximum drawdown | 24.79 | 4.76 | +20.03 |
| Martin ratioReturn relative to average drawdown | 183.92 | 13.27 | +170.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBTU.L | BBM3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 8.12 | 0.95 | +7.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 6.79 | 0.73 | +6.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 5.05 | 0.67 | +4.38 |
Drawdowns
IBTU.L vs. BBM3.L - Drawdown Comparison
The maximum IBTU.L drawdown since its inception was -0.62%, smaller than the maximum BBM3.L drawdown of -2.44%. Use the drawdown chart below to compare losses from any high point for IBTU.L and BBM3.L.
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Drawdown Indicators
| IBTU.L | BBM3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.62% | -2.44% | +1.82% |
Max Drawdown (1Y)Largest decline over 1 year | -0.16% | -0.82% | +0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -0.16% | -1.11% | +0.95% |
Max Drawdown (5Y)Largest decline over 5 years | -0.29% | -2.44% | +2.15% |
Current DrawdownCurrent decline from peak | 0.00% | -0.17% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -0.41% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.30% | -0.28% |
Volatility
IBTU.L vs. BBM3.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) is 0.08%, while JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) has a volatility of 1.44%. This indicates that IBTU.L experiences smaller price fluctuations and is considered to be less risky than BBM3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTU.L | BBM3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 1.44% | -1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | 3.42% | -3.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.49% | 4.12% | -3.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.50% | 4.76% | -4.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.54% | 4.76% | -4.22% |
IBTU.L vs. BBM3.L - Expense Ratio Comparison
Both IBTU.L and BBM3.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IBTU.L vs. BBM3.L - Dividend Comparison
IBTU.L's dividend yield for the trailing twelve months is around 4.07%, while BBM3.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% |
Frequently Asked Questions
IBTU.L and BBM3.L have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IBTU.L and BBM3.L have the same expense ratio: 0.07% per year.
IBTU.L tracks ICE U.S. Treasury Short Bond Index, while BBM3.L tracks ICE 0-3 Month US Treasury Notes & Bills Index. They also come from different issuers: iShares and JPMorgan.
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